As you can see, blacks certainly did "benefit" from the subprime housing bubble. But you can also see that black homeownership peaked in 2004, with a sharp decline in 2005, a good two years before the traditional white media began spreading the alarm about subprime mortgsages last year.

Thus--unsurprisingly--blacks were, once again, the earliest and most victimized, and whites would have been much better off if they'd paid attention to what was happening to blacks, and had realized it would soon be happening to everyone.